2012-12-26
2013-01-03
x Squawk on the Street

PROGRAM
Squawk on the Street 3
STATION
CNBC 3
DATE
Dec 31st (Mon) 1
Dec 28th (Fri) 1
Dec 26th (Wed) 1
LANGUAGE
English 3
TOPIC
bertha coombs 3
carl 3
chicago 3
europe 3
florida 3
john 3
john harwood 3
melissa 3
new york 3
obama 3
pentagon 3
rick santelli 3
rodger 3
s&p 3
scottrade 3
washington 3
( more )

Set Clip Length:

CNBC - Squawk on the Street
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Dec 31, 2012
CNBC
Squawk on the Street
more/borrow
Dec 31, 2012


cuts kicking in. especially for defense. right now, the pentagon's looking at something in the neighborhood of a $55 billion cut in 2013, about 10% of its programs, and specifically, the "wall street journal," among others, reporting that the pentagon is making contingency plans to notify 800,000 civilian employees about possible furloughs. so this is front and center right now. and among those also sounding the alarm, senator lindsey graham after getting a call from defense secretary leon panetta over the weekend. >> last night at 7:30 during dinner, he said, lindsey, i'm told there's not going to be anything in this deal to avoid sequestration going into effect. >> there you have it in a nutshell. again, number one, we are getting hopefully a little more optimistic about either a short-term patchwork deal, setting the table for something bigger after the first of the year. but again, we've been talking primarily just on the tax side of the equation, the issue for the pentagon, the defense industry, and frankly, a whole lot of civilian employees, what about the sequeste
CNBC - Squawk on the Street
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Dec 26, 2012
CNBC
Squawk on the Street
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Dec 26, 2012


with the sequester? where are we on the pentagon cuts? >> nobody wants those pentagon cuts, including the president of the united states. there may be some on the left who would favor that. but that's not a dominant position. that's not where the political center of gravity is in the country. i think it's very likely that those sequester cuts are going to be turned off. now, remember the sequester, $1.2 trillion over the next nine years. that's a little over $100 billion a year. so half of that is defense, half of that is discretionary. the kick the can mini deal solution that we're talking about would identify some subset of spending cuts that would be the lowest hanging fruit still available that might turn off the sequester, or they could just turn off the trigger all together. the sequester exists because of a law passed by congress, another law passed by congress could change it. >> good to see you, john. thanks for the update. >> mastercard spending pulse saying it's the lowest level of 2008. high end is one of the areas getting hit hard. tom is managing director at the tellsee advisory group
CNBC - Squawk on the Street
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Dec 28, 2012
CNBC
Squawk on the Street
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Dec 28, 2012


over its price. but lockheed and the pentagon have come to terms to buy another round of the jets for nearly $4 billion. morgan stanley calls the f-35 the single most important investment debate over lockheed stock. second, cash will be king. as defense spending slows, analysts say many defense companies will reduce share buyback programs and conservative capital. and look to international customers to make up for lost business at home. third, it's a bird, it's a plane, it's big brother. as criticism rises over the use of drone strikes by the obama administration, look to see companies launching drone war at home for deals to build unmanned aircraft for domestic use. the faa says there could be 30,000 uavs in u.s. skies by 2020. the teal group says domestic drones could be worth $89 billion over ten years, as everyone from homeland security to tmz wants permission to use them. >>> let's get some more insight on the defense skprkt how to play it as the fiscal cliff deadline grows closer. howard rubel is with jeffries. great to speak with you. and i guess key to understanding the im

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